In October 2017, Xiaomi exceeded the revenue goal of RMB 100 Billion in China in just over Seven Years
The year 2017 has been an extraordinary for Xiaomi. It was a “turnaround year”, but more importantly a “leapfrog year” — a critical year in breaking new ground for our future as we embark on a new journey, said Lei Jun, the founder of Xiaomi addressing his colleagues in China.
“In October 2017, we exceeded the revenue goal of RMB 100 billion set at the beginning of the year. I checked — and found out that to achieve this milestone, Apple took 20 years, Facebook took 12 years, Google took nine years, Alibaba took 17 years, Tencent took 17 years, Huawei took 21 years,” said Lei Jun on crossing the RMB 100B revenue threshold.
Xiaomi has taken only slightly over seven years. We are very likely to enter the Fortune Global 500 list of companies this year, Jun said.
According to Jun, the three main reasons for the successful rebound in smartphone sales of Xiaomi were; relentless pursuit of technology innovations, release of Surge S1 and leading the smartphone industry with Mi MIX 2, firm focus on quality, showing significant improvement and rapid growth in our global business, with Xiaomi becoming #1 in India and global markets flourishing.
Due to the improvement of our turnover capabilities, our global shipments have improved significantly since Q2 2017 — Xiaomi is back in the top 5 smartphone brands. As per IDC, we have become the world’s #4 smartphone brand in Q4 2017 in terms of shipments. Even with the overall smartphone market declining 6.3%, we managed to maintain a year-on-year growth of 96.9% — Xiaomi was the only brand with continuous growth, demonstrating the support and recognition we received from our users, he said.